NEOM Chief Urban Development Officer: The Line to Represent an Int’l Standard for World Cities

The Line will change the way of life and behavior of the population. Asharq Al-Awsat
The Line will change the way of life and behavior of the population. Asharq Al-Awsat
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NEOM Chief Urban Development Officer: The Line to Represent an Int’l Standard for World Cities

The Line will change the way of life and behavior of the population. Asharq Al-Awsat
The Line will change the way of life and behavior of the population. Asharq Al-Awsat

Antoni Vives, Chief Urban Development Officer at NEOM, said that ongoing works in the city of The Line are accelerated to complete several stages and start welcoming residents and visitors by 2025.

In an interview with Asharq Al-Awsat, Vives noted that the city, which is scheduled to be fully completed by 2030, would be the home to the biggest developers of the knowledge economy environment worldwide, as the project aims to be a benchmark for the perceptual city in the world.

The plans are proceeding in an integrated manner that is consistent with the nature of the modern city, in accordance with the requirements of NEOM, with the goal to transform the vision of the Saudi Crown Prince into reality, he emphasized.

Vives also revealed that the city’s airport – one of the largest in the world – would be ready before 2030.

The project aims to transform all challenges into amazing solutions and opportunities to build a different human future by exploiting the latest types of modern technology, through a cognitive city that uses artificial intelligence, away from congestion and noise, and protected from carbon and industrial pollutants, he underlined.

According to Vives, great work has been achieved in the initial stage of the project over the past three years.

He revealed that The Line would change the way of life and behavior of the population, in a manner that preserves a safe and pure environment, while providing an amazing lifestyle in terms of food, sports, transportation, tourism and other features.

It will be an astounding city; yet, it is racing against time to exploit the latest technologies. It is a city with amazing modern technological development and constant renewal, he said.

Vives stressed that attracting global residents and investors to NEOM was a continuous strategy that would be always maintained, as it seeks to create a new and attractive world that gives human life a wide range of luxury and happiness with its large areas of fun and gardens of beauty.

This part of the world is not just a piece of land, but an integrated life structure, in which the means of transport run in an unprecedented modern way, where senior researchers, scientists and innovators work to make everything within reach in a different, unconventional way, far from anything familiar, the NEOM Chief Urban Development Officer told Asharq Al-Awsat.

The Line aims to be the international standard for world cities, he said, adding that all business, machinery, and services will be managed with renewable energy, which enhances the added value of energy in the city, away from pollution.



Euro Zone Yields Fall after Iran Raises Prospect of Hormuz Reopening

Euro banknotes (Reuters)
Euro banknotes (Reuters)
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Euro Zone Yields Fall after Iran Raises Prospect of Hormuz Reopening

Euro banknotes (Reuters)
Euro banknotes (Reuters)

Euro zone bond yields fell for a second straight day on Tuesday, hitting their lowest in almost two weeks after Iran raised the prospect of reopening the Strait of Hormuz and Washington hinted it could restart talks with Tehran, pushing oil prices lower.

Germany's 10-year bond yield, the benchmark for the bloc, fell 1 basis point to 3.44% after rising as much as 4 bps earlier in the session. It fell 7 bps on Monday as energy prices retreated.

A senior Iranian official told Reuters that the strait, which carried about a fifth of global energy supplies before the war, could reopen within seven days if the US also lifts its blockade of Iranian ports.

The official added that Iran's delegation to a UN meeting in New York this week has full authority to revive diplomacy over the conflict.

US Secretary of State Marco Rubio told NBC's "Today" show that Washington was open to speaking with Tehran.

The dip in energy prices helped pull yields lower globally after a surge in recent weeks fuelled by expectations of further interest-rate hikes to combat energy-driven inflation. Traders are pricing in around 35 bps of additional European Central Bank tightening this year, down from 40 bps on Friday.

Germany's two-year bond yield, which is sensitive to interest-rate expectations, fell 1 bp to 3.19%, following a 6-bp drop on Monday.

Rabobank senior rates strategist Lyn Graham-Taylor said lower oil prices following the Iranian comments were weighing on bond yields.

Brent crude futures were last down 1% to $100 a barrel after earlier falling to $97.40, the lowest in two weeks.


Libya's NOC Says Sharara Crude Pipeline Closure Losses at 130,000 bpd

General view of the Sharara oil field in Libya (Reuters)
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Libya's NOC Says Sharara Crude Pipeline Closure Losses at 130,000 bpd

General view of the Sharara oil field in Libya (Reuters)

Libya's National Oil Corporation said on Tuesday that the Sharara-Zawiya crude loading pipeline closure has led to daily losses of about 130,000 barrels per day, Reuters reported.

An armed military group closed valve seven on the Sharara crude pipeline to Zawiya port on Monday, resulting in a significant decline in production at the Sharara oilfield, the National Oil Corporation said in a statement.

 

 

 

 


Sources: Saudi Arabia Restarts East-West Oil Pipeline

FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
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Sources: Saudi Arabia Restarts East-West Oil Pipeline

FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

Saudi Arabia has restarted operations at its East-West Pipeline and could resume exports from the Red Sea port of Yanbu later on Tuesday, three sources briefed on the matter said.

Drone attacks forced Saudi Arabia to shut its East-West Pipeline on September 13, halting crude loadings at the kingdom's Yanbu port.

The resumption of supplies on Tuesday helped to drive selling on global oil markets, traders said. Brent crude futures fell by more than $2 a barrel to its lowest since September 8.

Two trading sources said traders were getting ready for Saudi oil loadings by moving tankers to Egypt's Mediterranean Port Said for ship-to-ship transfers and also to Sidi Kerir.